JLL Capital Markets announced this week that it has completed the sale of The reserve at Peachtree Corners, a 354-unit, a value-added multi-unit asset at Peachtree Corners.
JLL represented the seller, CFI Legacy Peachtree Corners, LLC, and the property was managed by RPM Living Investments. Terra Cap Management, LLC acquired the asset for an undisclosed sum.
Built in 1985 and located on 44.97 lakeside acres at 3495 Jones Mill Rd., The Reserve at Peachtree Corners consists of one, two and three bedroom units with washer-dryer connections, kitchens with islands, false hardwood floors and brick fireplaces in some spaces. Community amenities include a swimming pool, private lake view, fully equipped fitness center, dog park, lakefront clubhouse, and business center.
The JLL Capital Markets sales and advisory team representing the seller was led by the Senior Managing Director Jean Weber, General manager Bill shippen, Director Vic Ciancetta, and director Amalia Londono.
“The Peachtree Corners reserve offered investors a well-managed asset with a solid physical plant that was ready for major renovations,” Shippen said in the announcement. “Our marketing process demonstrated the generous renovation premium in addition to the strong organic growth in rents. This transaction sets a new price level for the Peachtree Corners submarket. “
JLL Capital Markets is a global full service provider of capital solutions for real estate investors and occupiers. The company has more than 3,000 capital markets specialists around the world with offices in nearly 50 countries.